ENGIE and Equinor Partner on Low Carbon Hydrogen Development
Power company ENGIE and Norway-based energy company Equinor announced today the formation of a partnership focused on the development low-carbon hydrogen value chains in Belgium, the Netherlands and France, investigating the production and market potential for hydrogen from natural gas whereby the CO2 will be captured and stored permanently offshore.
Hydrogen is viewed as one of the key building blocks of the transition to a cleaner energy future, given its ability to act both as a clean energy carrier and fuel, as well as a CO2-neutral feedstock for the production of green chemicals. According to ENGIE and Equinor, the development of low-carbon and renewable hydrogen projects at scale will be essential in order to make it possible for industrial customers to significantly reduce CO2 emissions before 2030.
The companies stated that they will start discussions with potential customers to assess the project, as well as with stakeholders and relevant authorities in the coming months.
Edouard Neviaski, CEO of the ENGIE’s Business Unit Global Energy Management said:
“We are glad to work on this project with Equinor, a long-standing partner for more than 40 years. ENGIE firmly believes that hydrogen will play a key role in the energy transition. ENGIE produces renewable hydrogen and supports the development of the market for low-carbon hydrogen. Both these technologies will be necessary to accelerate the development of a solid infrastructure and the transition to a carbon neutral economy.”
Grete Tveit, Equinor’s senior vice president for Low Carbon Solutions added:
“Equinor aims to be a leading company in the energy transition. We believe that hydrogen and CCS will be vital if we are going to succeed with the transition. Collaboration and partnerships will be absolutely necessary to find the best solutions. Our two companies have complementary areas of expertise that we can utilize to develop low carbon hydrogen initiatives together.”